British companies looking to bring experience and expertise to Egypt’s new energy discoveries
Terry Willis, Director of Africa and Middle East at the Energy Industries Council (EIC), has affirmed Egypt as a key market for leading British companies working in the oil and gas sector. Willis is in Egypt leading a week-long trade mission for eight British companies that provide specialised goods and services to the global energy […]
Dana Gas 2015 net profit up by 15%, receivables and production from Egypt decline
Net profit $144 million (AED528 million) despite lower oil prices Cash and bank balance at $470 million (AED1.7 billion) at year-end 2015 Increase in oil and gas reserves and decline in Egypt receivables Total assets up by 8%; positive outcomes in arbitration cases Dana Gas PJSC, the Middle East’s leading publicly listed natural gas company, […]
Video: BP Energy Outlook 2035
Watch the video to see what 2035 could bring for the energy industry. BP chief economist Spencer Dale shares his thoughts on the big talking points from the Energy Outlook 2016. To find out more about the BP Energy Outlook 2035, visit http://www.bp.com/energyoutlook (Source: BP plc)
BP Energy Outlook: Fossil fuels remain dominant form of energy powering global expansion through 2035
The BP Energy Outlook outlines the “most likely” path for the global energy landscape – supply and demand – over the next 20 years. The Energy Outlook considers a base case, which outlines the “most likely” path for energy demand based on assumptions about future changes in policy, technology and the economy. In the base […]
As Big Oil shrinks, boards plot different paths out of crisis
As oil and gas companies cut ever-deeper into the bone to weather their worst downturn in decades, boards have adopted contrasting strategies to lead them out of the crisis. Crude prices have tumbled around 70 percent over the past 18 months to around $35 a barrel, leading to five of the world’s top oil companies […]
GUPCO: BP invests $777 million this year in the Gulf of Suez
Average daily production 85,000 barrels of crude and condensates, planned to reach 90,000 barrels per day during 2016. A new strategy to cut spending by $483 million. Current total reserves are 10.6 million barrels of crude and 94 billion cubic feet of gas. BP’s investment budget for exploration, development and production in the Gulf of […]
BP remains ambitious on gas in Egypt despite weak oil prices
Britain’s BP Plc aims to double natural gas production in Egypt in the next four years despite weak oil prices as Egypt’s burgeoning energy market offers hope for its battered economy. Egypt is on a drive to ramp up oil and gas production – aggressively signing exploration contracts, renegotiating production prices, and lobbying companies to […]
Subsea 7 awarded sizeable BP offshore platform extension and tie-in contract
Subsea 7 has secured a contract by Burullus Gas Company S.A.E. for the platform extension and tie-in on the first phase of the West Nile Delta development of the Taurus and Libra fields by BP, offshore Egypt. Engineering and project management work will start immediately and will be undertaken at Subsea 7’s Cairo office and Subsea 7’s Global […]
Bechtel discusses possibilities of participation in energy projects
The Minister of Petroleum and Mineral Resources, Eng. Tarek El-Molla discussed with David Welch, Bechtel’s Senior Vice President and President of the Europe, Africa and Middle East Region, current and future projects in the oil, gas and petrochemicals sectors. Discussions covered the possibility of participation by Bechtel in the implementation of new projects and investment […]
BP to acquire additional interest in the West Nile Delta project
BP Egypt has announced the completion of its acquisition of 22.75 per cent in the North Alexandria Concession and 2.75 per cent in the West Mediterranean Deep Water Concession from Hamburg-based DEA Deutsche Erdoel AG. The acquisition will bring BP’s working interest in both concessions of the West Nile Delta project to 82.75 per cent. […]